PPI doubled estimates at 1.4%, yields broke 5% on $39T debt, and CNBC says sell gold stocks — that's the best buy signal I've ever seen.

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Kevin Warsh was confirmed as the new Fed Chair and immediately inherited a stagflation crisis: April PPI came in at 1.4% month-over-month — double the high end of estimates — pushing producer prices to 6% year-over-year. Core PPI tripled expectations at 1.0%, an annualized 12.5% rate. The CPI the day before showed 0.6% monthly with year-over-year inflation climbing to 3.8%. The 30-year Treasury yield broke above 5% for the first time in 19 years, with a bond auction requiring a 5% coupon — but unlike 2007 when the debt was $9 trillion, today it's $39 trillion.

Peter Schiff argues real interest rates are crashing even as nominal rates rise, making the environment extremely bullish for gold and silver — with silver hitting $89 intraday and leading gold for the first time this cycle. He highlights CNBC analysts recommending viewers sell gold stocks as a perfect contrarian buy signal, dismantles Trump's proposed ban on corporations buying homes as socialist policy, defends Jeff Bezos against critics who blame him rather than consumers for disrupting small businesses, endorses Thomas Massie's congressional primary fight, and promotes his new 10-minute FOIA evidence video exposing the IRS conspiracy to destroy Euro Pacific Bank.

Chapters:

00:00 Cold Open Montage

00:55 Show Begins Tech Issues

01:27 New Fed Chair Firestorm

03:26 CPI Breakdown April

05:24 PPI Shock And Stagflation

07:59 Trump Inflation And Politics

09:43 Bond Yields Debt Trap

13:20 Fed QE Dilemma

15:39 Ad Break NetSuite AI

17:01 Markets Misread Inflation

18:38 Real Rates Gold Silver

23:12 Metals Boom Copper Oil

24:51 Tariffs Beef And Constitution

29:09 Ad Break Outskill AI

31:42 Stocks Ignore Inflation Bubble

32:18 Bubble Mentality Critique

33:10 CNBC Chart Pattern Trap

34:30 Gold Stocks Contrarian Buy

35:38 Mining Stocks vs AI Hype

36:15 Trump Housing Ban Backlash

37:46 Why Rentals Need Investors

39:19 Backing Thomas Massie

42:25 Trump Grip on GOP

43:08 Trump China Summit Skepticism

45:05 Defending Bezos and Amazon

46:20 Consumers Drive Competition

49:07 Living Wage Reality Check

53:35 Rigged Playing Field Factors

55:31 Puerto Rico Inventory Tax

57:36 FOIA Bank Conspiracy Video

59:05 Demanding Government Accountability

01:00:35 Wrap Up and Next Plans

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The household survey says we've lost jobs every month of 2026. The establishment survey says record highs. One of them is lying.

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The April jobs report showed 115,000 jobs created against expectations of 63,000 — but 391,000 of those came from the birth-death model, meaning without statistical assumptions the economy actually lost jobs. The household survey confirms this: employment declined 226,000 in April alone, with net job losses every month of 2026 averaging 343,000 per month. Full-time jobs collapsed by 424,000 in a single month, dragging the total to its lowest since December 2024. Labor force participation fell to 61.8%, the lowest since October 2021.

Markets rallied to record highs on ceasefire optimism, with the Nasdaq up 4.5% and silver surging 9.4% on the week. Peter Schiff argues the AI spending driving GDP is a bubble comparable to dot-com — the technology is real but the stocks are wildly overvalued and most will go to zero. He dismantles Bernie Sanders' criticism of Jeff Bezos for layoffs, pointing out Bezos employs 1.5 million while Sanders has created zero private-sector jobs. On the debt, Schiff debunks the claim that $31.8 trillion in US government assets offset the national debt — most of it is illiquid land, national parks, and defaulting student loans that cannot service a single dollar of interest payments.

Chapters:

00:00 Show Cold Open

00:56 Podcast Intro

01:20 April Jobs Beat

03:19 Job Quality Concerns

04:58 Participation Rate Drop

07:22 Household Survey Reality

07:52 Birth Death Model Critique

12:26 Full Time Collapse

14:57 War Talk Tease

15:29 Sponsor Odoo Ad

17:31 Markets Rally on Peace Hopes

21:48 AI Bubble Warning

25:03 Bezos vs Sanders Debate

30:34 Sponsor Hims Ad

31:16 Telehealth Weight Loss Setup

31:57 Metals Rally Recap

32:30 Copper and AI Demand

33:56 Miners and Physical Buying

36:12 Oil Dollar and War Fallout

37:10 War Narrative and Objectives

40:22 Bond Yields and Default Risk

45:10 Debt Math and Interest Spiral

50:31 Fake Asset Claims Debunked

57:05 Preparing Investors for Crisis

59:34 Final Sign Off

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The dollar erased every war gain, oil's back above $102, yields are at 4.5%, and mining stocks just gave you the buying opportunity of the year.

Gold settled the week at $4,612 with silver at $75.33, both drifting lower as investor attention shifted to record-high stock indexes. Mining stocks took the hardest hit with GDX down 6.25% — a buying opportunity Peter Schiff says is being created by the same complacency that preceded every major gold breakout.

The dollar index fell to 97.7, erasing every penny gained since the Iran war began — a historically weak bounce for a supposed safe haven currency. Oil climbed back above $102 while 30-year Treasury yields touched 4.5%, recreating the exact conditions that forced Trump to reverse Liberation Day tariffs. Schiff revisits Powell's claim of 40 years of controlled inflation, breaking it down decade by decade to show average CPI of 5.5% in the '80s, 3% in the '90s, and 2.6% in the 2000s — with only the post-crisis 2010s near the 2% target. He also highlights the Bitcoin conference where last year's darling Nakamoto is down 99% between conferences, while this year's pitch of "digital credit" is even worse than subprime.

Chapters:

00:00 Welcome and Subscribe

00:25 Gold Silver Weekly Recap

01:08 Mining Stocks and Fund Plug

02:00 Why Gold Bullish Now

03:14 Stocks High Oil Yields Rising

06:27 Fed Presser and Powell Exit

10:05 Money Supply Inflation Reality

17:32 Debt Deficits and Fed Failure

19:54 Tariffs Cars and Stagflation

22:48 Bitcoin Strategy Ponzi Talk

24:30 Dollar Weak Bonds to Gold

27:19 Gold Targets and Crypto Risks

29:15 Schiff Gold App Call to Buy

30:58 Wrap Up and Where to Follow

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